Video: Google Execs Talks $1 Million Donation on CBS THIS MORNING

Google Chairman Eric Schmidt and Google Ideas Director Jared Cohen said that the company will donate $1 million to a company or individual making strides to solve the world's problems, in an interview that was broadcast live, today, Feb. 24, 2014, on CBS This Morning (7:00-9:00 AM) on the CBS Television Network.

"I think I, at least, should put my money where my mouth is," Schmidt told co-hosts Charlie Rose, Norah O'Donnell and Gayle King, referencing the company's mission to connect the world.

Additionally, Schmidt also addressed Facebook's recent acquisition of WhatsApp and reports that Google had bid $10 billion for the app, as well as the future role of technology in catching terrorists, and the issue of privacy and government surveillance.

Excerpts of the interview are below.

Watch the interview in full here:

GAYLE KING: You're here today for a big announcement. We're very glad you chose us, Eric and Jared. You want to give away $1 million to a company or people who are solving problems through technology. What impresses you? What gets your attention, Eric Schmidt?

ERIC SCHMIDT: Well, I think I, at least, should put my money where my mouth is. The book is about problems. There's lots of people working on the solution. We identified a whole bunch of companies in different parts of the world trying to solve oppressive censorship, empower individuals, and make these tools more useful.

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